Bills, unfortunately, are a necessary commodity of life if we want to enjoy having a roof to live under, with hot water, heating and lighting. There is more to paying bills then simply writing a cheque and waiting for it to be cashed. By following these tips you can ensure you avoid any late fees and enable you to manage your bills adequately.
Prioritise your bills
Bills are essential and first priority payments if you wish to keep your utilities and telephone. Make your bills your first port-of-call when your wages go in to your account: see how much your bills are and set aside the necessary money to be able to pay them off when the time comes. Financial obligations should be met above all else.
Send your payments in early
It may sound obvious, but post takes a few days to arrive at its destination. If you send your payments in a week before the bill is due you afford yourself breathing space for the company to receive your payment. By sending your payment in a few days prior to the bill being required you run the risk of the company not receiving it in time which may result in late charges being registered to your account. To make your payment process even quicker write your account number on the cheque so the company knows which account to pay off.
If you can’t make the payment let them know!
If you’re struggling for finances and won’t be able to pay your bill contact the company before the due date and let them know! Burying your head in the sand and ignoring the situation is the worst thing you could do. By contacting the company and giving them notice you may be able to agree to a deferral of payment or a reduced payment until such a time when you are able to repay the outstanding balance and have your late fee waived. Make sure, however, that you keep to any agreement that you make as if you break it you may incur late fees, and lose your trust rating with the company harming your chances of any further arrangements or deals in the future.
Over or under charged? Contact the company
Although being given an incorrect bill will be the fault of the company it is you that needs to rectify it. Just as you would contact the company to make them aware of overcharging you in order to gain a refund you need to also make them aware if they haven’t charged you enough. Errors in their accounts will eventually come to light which means you may receive a backdated higher charge in the future. Avoid this situation by making sure you are always being billed the right amount.
Keep a record of your accounts
You may have sent off your payment but it normally takes the bank a few days to transfer money from one account to the other meaning your account may show more funds than there actually is. Make sure you are aware of how much money is in your account before you send off your payments and manually adjust your records yourself to avoid overspending before the essentials are paid. If you don’t you may find your cheques bouncing and late fees being placed on your account.